Samsung Heavy Industries announced on July 27 that it has won an order for one LNG carrier worth 223.6 billion won. The order was placed by an Oceania shipping company and the ship will be delivered by April 2024. Including this order, Samsung Heavy Industries won orders for 52 ships worth US$6.7 billion in 2021, reaching 74 percent of its annual target of US$9.1 billion. By ship type, the company won seven LNG carriers, 38 container ships and seven crude oil carriers. “There is a high possibility that our company ...

Grandweld Shipyards, a leading UAE-based shipbuilding and ship repair facility, successfully delivered the second of the three new 42-meter crew boats (GrandSuperior), built for Allianz Middle East Ship Management LLC, a leading provider of offshore support vessels and marine logistics services. Named Allianz Surfer 2, the crew boat is expected to join the charter contract for ADNOC offshore projects, as part of the UAE’s strategy to increase its oil and gas production capacity. The official delivery ceremony recently took place at Grandweld’s headquarters in Dubai Maritime City (DMC), in the ...

South Korea’s midsized shipyard STX Offshore & Shipbuilding Co. under new ownership has rebranded itself as K Shipbuilding to celebrate its new start after graduating from eight-year-long creditor management. Creditors completed the sale of the shipbuilder to a consortium of a local private equity fund KH Investment and United Asset Management Company (UAMCO) at 250 billion won ($217.2 million). State lender Korea Development Bank (KDB), its main creditor, officially notifies the termination of creditor management on Tuesday and the company will hold a ceremony to celebrate the rebranding on Wednesday. ...

Hyundai Heavy Industries (HHI) Group is promoting an autonomous operation of a super-large liquefied natural gas (LNG) carrier across an ocean for the first time in the world. The group is planning to hold the demonstration event at the end of 2021. It will use a 300-meter-long vessel currently being built by the group’s shipbuilding holding company Korea Shipbuilding & Offshore Engineering (KSOE). The vessel will be loaded with Hyundai Intelligent Navigation Assistant System (HiNAS) 2.0, which automatically recognizes objects surrounding the vessel and route to alert the risk of ...

Philippine creditors are close to selling a strategically located but debt-laden shipyard north of the capital Manila, government officials said on Tuesday, with a North American company cited as being an investor in the deal. Hanjin Philippines, a unit of South Korea’s Hanjin Heavy Industries & Construction Co Ltd, in 2019 defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders. Talks with investors were almost complete, presidential spokesperson Harry Roque told a news conference. Hanjin Philippines’ ...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, held a launch ceremony today (July 26th) for the first of two large multi-role response vessels (MRRVs) being built to order for the Department of Transportation in the Republic of the Philippines. The ceremony took place at the Enoura Plant at MHI’s Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture. The christening and handover of this first vessel is scheduled for May 2022 after cruised to Manilla in early March, following outfitting work and trial runs. The launch ...

GTT announces that it has received an order from its partners the Korean shipyards Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) for the tank design of six new LNGCs1. Four of these LNGCs will be built by HHI: two on behalf of an Asian ship-owner and two on behalf of a European ship-owner. The two last LNGCs will be built by HSHI on behalf of a European ship-owner. GTT will design the tanks of the vessels which will offer a cargo capacity 174,000 m3 and will be ...

South Korea’s Hyundai shipbuilding group has developed a semi-submersible floater model for a 10-megawatt-class offshore wind turbine in cooperation with two state bodies. It can shorten construction work because a power generation turbine can be loaded onto the floater quickly at the shipyard’s pier for transportation to an offshore installation site. Hyundai Heavy Industries (HHI) has partnered with Korean Register (KR), a maritime classification society, and Korea National Oil Corporation (KNOC) which operates oil and gas fields, to develop the model features durability to withstand strong winds. KNOC has been ...

Shipbuilders have hit 70 percent of their targets for orders this year, but earnings are not living up to expectations. An increase in prices for steel plate has hurt their bottom lines, along with sluggish order books from last year. Korea Shipbuilding & Offshore Engineering (KSOE) has already surpassed its 2021 order target of $14.9 billion, winning contracts to build 49 container vessels, 12 very large crude oil carriers, and more. They total $16.8 billion already, or 113 percent of the target set for the entire year. Samsung Heavy Industries ...

In 1919, Ralph D. Paine began a brief history of the old U.S. merchant marine with these words: “The story of American ships and sailors is an epic of blue water which seems singularly remote, almost unreal, to the later generations. A people with a native genius for seafaring won and held a brilliant supremacy through two centuries and then forsook this heritage of theirs. The period of achievement was no more extraordinary than was its swift declension.” Paine was talking mainly about the era of sailing ships, when U.S. ...

Ascenz, the Singapore-based GTT Smart Shipping Company, launches the Electronic Bunker Delivery Note (eBDN) solution to improve the efficiency and the transparency of the bunkering process. Ascenz’ solution contributed to the success of the world’s first live bunker delivery financing pilot, operated through an eBDN. The operation has been conducted by DBS1 Bank, in partnership with Trafigura Group’s marine fuels supply and procurement joint venture TFG Marine, Ocean Network Express (ONE) and Ascenz, with the support of the Maritime and Port Authority of Singapore (MPA). The traditional bunkering process is ...

GTT announces that it has received, at the end of June, orders from its partners the Korean shipyards Hyundai Samho Heavy Industries (HSHI) and Daewoo Shipbuilding & Marine Engineering (DSME) for the tank design of two new LNGCs1. GTT will design the tanks of the vessels which will each offer a cargo capacity of 174,000 m3. The LNGC built by HSHI, on behalf of a Liberia ship-owner, will be fitted with the Mark III Flex membrane technology and the LNGC built by DSME, on behalf of an Asian ship-owner, will ...

Korea Shipbuilding & Offshore Engineering Co. (KSOE), a leading South Korean shipbuilder, on Wednesday posted a dismal quarterly operating loss after reflecting hefty one-time provisioning against a steep rise in steel plates for ships. KSOE, the intermediate shipbuilding holding company of Hyundai Heavy Industries Group, reported it swung to an operating loss of 897.3 billion won ($777 million) in the three months to June on a consolidated basis, from a profit of 92.9 billion won a year ago. The loss marks the largest shortfall since the company ran an operating ...

Korean group Daewoo Shipbuilding & Marine Engineering said it has clinched an order worth KRW725.3 billion ($633.6 million) from Qatar’s North Oil Company (NOC) for setting up a fixed platform at the country’s largest Al-Shaheen oil field. The scope of work includes a topside, a jacket, and an interconnection bridge with other facilities, said the Korean group in its statement. Construction on the fixed platform will be completed by the second half of 2023, it added. Source: TradeArabia News Service

GTT has received, at the end of June, an order from its partner, the Korean shipyard Samsung Heavy Industries (SHI) for the fuel tank design of five very large LNG-fuelled container vessels, able to carry 15,000 containers each, on behalf of the Asian ship-owner Seaspan Corporation (“Seaspan”), the world’s largest independent owner and operator of container ships, a wholly owned subsidiary of Atlas Corp and the Israeli charterer ZIM. The fuel tank of each vessel will offer a capacity of 12,000 m3 and will be fitted with the Mark III ...